Search results for: EC

Sri Lanka's inflation surges to a record 60.8pc

-- 2022-07-29 17:00:09

Sri Lanka's inflation surged to a record 60.8 per cent in July, the crisis-struck country's statistics department said on Friday, compared to a 54.6 per cent rise in June. The jump in the Colombo Con...

World Bank says no new plans for financing for Sri Lanka

-- 2022-07-29 11:47:40

The World Bank does not plan to offer new financing to Sri Lanka until an adequate macroeconomic policy framework is in place, it said in a statement on Thursday. The World Bank stressed that Sri Lan...

Some Asia economies may need rapid rate hikes to cool inflation: IMF

-- 2022-07-29 11:08:29

Several Asian central banks must raise interest rates rapidly, because inflationary pressures are rising due to a global surge in food and fuel costs caused by the war in Ukraine, said a senior Intern...

Bangladesh seeks $2.0b from World Bank, ADB to stabilise economy

FE ONLINE DESK 2022-07-29 10:43:38

The government has requested $2.0 billion from the World Bank and the Asian Development Bank in budget aid to prop up the economy on the edge due to the Ukraine-Russia war following the pandemic. Ban...

US GDP shrinks in second quarter. Is the nation in recession?

-- 2022-07-28 21:47:38

The US economy shrank for a second straight quarter, data released on Thursday showed, amplifying an ongoing debate over whether the country is, or will soon be, in recession. The 0.9 per cen...

BCC receives int’l innovation of excellence award for e-service bus

FE ONLINE REPORT 2022-07-28 19:08:07

Bangladesh Computer Council (BCC) has achieved the innovation of excellence award titled “The Open Group India Awards 2022” for the national e-service bus. Tarique M Barkatullah, director...

Bangladesh Bank raises farm loan disbursement target by 8.88pc

-- 2022-07-28 18:25:47

Bangladesh Bank (BB) has raised the agriculture and rural loan disbursement target by 8.88 per cent to Tk 0.30 trillion for the current 2022-23 financial year (FY23). The disbursement target for the...

Bangladesh receives €2.0m EU support to strengthen social security

-- 2022-07-28 18:07:09

The European Union (EU) has transferred EUR 2.0 million (around Tk 200 million) to the government of Bangladesh to strengthen key areas of its social security system. It has a specific focus on stren...

China targets $148bn in financing for cash-strapped developers

-- 2022-07-28 17:11:04

China will help property developers by issuing 1 trillion yuan ($148.2 billion) in loans for stalled developments, reports Reutesr on Thursday citing Financial Times, as it tries to revive the d...

Mongla port flags off its first garment shipment, paving way for new exports

-- 2022-07-28 14:54:28

For the first time, a shipment of garments produced in Bangladesh has been shipped abroad from Mongla port, opening a new avenue for the export sector in the country, bdnews24.com reports. The Maersk...

PM stresses export instead of remittance to earn foreign currencies

-- 2022-07-28 13:44:07

Prime Minister Sheikh Hasina has underlined the need for focusing on export to earn foreign currencies instead of depending on remittance, BSS reports. "We have to more focus on export to earn foreig...

Bangladesh reports record $10 billion foreign funds in FY22

-- 2022-07-28 11:59:56

Development partners and donor countries have released more than $10 billion in loans and aid to Bangladesh in 2021-22, a record for a financial year in the country’s history. Bangladesh brough...

Annual debt servicing crosses $2.01b

FHM HUMAYAN KABIR 2022-07-28 09:09:23

Bangladesh's debt servicing crossed US$2.01 billion in the last fiscal year as payment for some previously borrowed big loans began, officials say, amid reported strains on the country's foreign-excha...

Kamal denied need for IMF loan for 'strategic reason'

FE REPORT 2022-07-28 09:00:26

Finance Minister A H M Mustafa Kamal Wednesday admitted seeking loans from the International Monetary Fund (IMF), although last week he denied any intention to take loans immediately. "If I expose...

Policing forex mkt cools dollar price

SIDDIQUE ISLAM 2022-07-28 08:58:15

An eventual policing drive against suspected manipulators brought down the overheating cash-dollar price on the open market that hit Tk 112 Tuesday amid growing concerns about Bangladesh's foreign-e...

BPC, energy ministry dismiss reports on fuel shortages

-- 2022-07-27 23:32:33

The chief of Bangladesh Petroleum Corporation (BPC) has dismissed news reports indicating that the government initiated a rationing system at the consumer level due to a shortfall. BPC is a governmen...

IMF says it stands ready to support Bangladesh

-- 2022-07-27 22:42:18

The International Monetary Fund (IMF) said on Wednesday it would discuss with Bangladesh its loan request after the country became the third in South Asia to seek such support after Pakistan and Sri L...

Bangladesh Bank asks banks to stop buying cars, cut operating and development costs

-- 2022-07-27 22:28:27

The Bangladesh Bank has ordered all commercial banks to reduce development and operating costs, and stop buying cars in an effort to save precious US dollars and fuel. The central bank on Wednesday a...

China to address 'unbalanced and inadequate' development in next five years: Xi

-- 2022-07-27 20:54:09

China must focus on addressing "unbalanced and inadequate development" in the next five years, President Xi Jinping told senior leaders this week, indicating he wants to continue the economic prioriti...

IMF says Bangladesh seeks loan under fund’s Resilience and Sustainability Trust

-- 2022-07-27 20:22:30

An official of International Monetary Fund has said Bangladesh asked the fund to start talks on a new loan under the creditor's Resilience and Sustainability Trust (RST). According to Reuters, IMF's...

Finance minister says remittances, exports to offset dollar shortage

-- 2022-07-27 19:48:42

Finance Minister AHM Mustafa Kamal says fraudulent imports are exacerbating higher dollar prices along with inconsistency in demand and supply of the currency. He also expressed his hope that remitta...

Purchase committee approves six proposals involving Tk 23.06 billion

-- 2022-07-27 18:00:44

The Cabinet Committee on Government Purchase (CCGP) has approved a total of six proposals worth Tk 23.06 billion. The committee approved separate proposals for procuring some 0.13 million tonnes of f...

Finance minister defends IMF loan obscurity as a strategy

-- 2022-07-27 17:06:17

Finance Minister AHM Mustafa Kamal says Bangladesh has sent a letter to the International Monetary Fund asking for a loan and that earlier denials on the matter were just part of the government's stra...

RMG exporters brace for slowdown after Walmart warning

-- 2022-07-27 16:41:48

After recovering swiftly from the havoc caused by the COVID-19 pandemic, Bangladeshi garment manufacturers are now anticipating a slowdown as sales at key customers such as Walmart are hit by a spike...

Join Huawei Technologies as Account Manager

FE Online 2022-07-27 13:49:06

Huawei Technologies (Bangladesh) Limited is an international electronics brand providing ICT products like smartphones and other electronic devices. Vacancy: not specified Vacancy Type: Account Mana...

Global economy in grips of serious slowdown, poll shows

-- 2022-07-27 12:12:02

The global economy is in the grips of a serious slowdown, with some key economies at high risk of recession and only sparse meaningful cooling in inflation over the next year, according to Reuters pol...

Australian inflation rate hits 21-year high

-- 2022-07-27 10:43:18

Australian inflation sped to a 21-year high last quarter and is likely to accelerate even further as food and energy costs explode, stoking speculation interest rates will need to more than double to...

US dollar hits record Tk 112 in kerb mkt

FE REPORT 2022-07-27 09:02:36

The Bangladeshi Taka (BDT) continued its slide against the US dollar (US$) on Tuesday, with the international currency hitting an all-time high of Tk 112 each in the kerb (open) market. According t...

IMF advises avoiding forex 'misclassification'

SIDDIQUE ISLAM 2022-07-27 08:48:12

Bangladesh has assured the International Monetary Fund (IMF) of complying with latest global standards of reporting foreign-exchange reserves, officials say, as an IMF mission mentioned 'miscalculatio...

NBR issues 14-point directives to pursue austerity in its offices

-- 2022-07-26 22:58:42

The National Board of Revenue (NBR) has issued a 14-point directive to pursue austerity in all possible areas especially in use of power and energy in its all offices across the country. The directiv...